Semi-Attached Legal Two-Family
For Sale
$1,369,000
2529 E 22nd Street, Brooklyn, NY 11235
MULTI_FAMILY - Brooklyn, NY
Property Size2,256 SF
Lot Size0.06 Acres
Price / SF$606.83
Days on Market185
Property Features for 2529 E 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
6
Bathrooms
5
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 5, Bedroom 3, Bedroom 1, Bedroom 6
Parking features
On Street
Basement
Full, Partially Finished
Lot features
Front Yard, Back Yard
Subdivision
Sheepshead Bay
Standard status
Active
APN
07441-0463
Size
2,256 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9030
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Amenities
porch
backyard
laundry room
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Building materials
Aluminum Siding, Stucco
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Cindy C Cheung · License #40CH0915567
(917) 601-2627
Added: Mar 4
Changed: Aug 2
Last Checked: Sep 5 at 1:06PM
MLS# 2601129
Copyright © 2026 Staten Island Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This legal two-family, six-over-six semi-attached duplex is a well-maintained Brooklyn property currently set up with two tenant-occupied units. Each floor features a living room/dining room combination, an eat-in kitchen, and three bedrooms with a full bathroom, plus direct door access to the backyard. The basement is partially finished and includes a family room, a full bathroom, open space, and a dedicated laundry and utilities room, along with a real door to the backyard. Hardwood floors run throughout the home. The property will be delivered vacant.
The building sits on a 25 X 100 lot (0.0574 acres) with shared driveway access. It was built in 1925 and features aluminum siding and stucco construction, with hot water heating powered by natural gas. Public sewer service is available, and parking is on street.
Zoned R4, the home offers a two-unit layout suited to owner-occupants or income buyers seeking a straightforward legal two-family configuration.
The building sits on a 25 X 100 lot (0.0574 acres) with shared driveway access. It was built in 1925 and features aluminum siding and stucco construction, with hot water heating powered by natural gas. Public sewer service is available, and parking is on street.
Zoned R4, the home offers a two-unit layout suited to owner-occupants or income buyers seeking a straightforward legal two-family configuration.
Key Highlights
- Legal two‑family 6/6 semi‑attached duplex with two separate unit layouts
- Two floors each offer living/dining combo, eat‑in kitchen, 3 bedrooms, and a full bathroom
- Partially finished basement with family room, full bathroom, open space, plus laundry and utilities room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,009
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,580,180
$1.6M
Cap Rate 7%
$1,128,700
$1.1M
Cap Rate 9%
$877,878
$877.9K
Market Conditions
NOI Build-Up for 2,256 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$115.1K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.9K $50.03/SF
− OpEx
−$33.9K −$15.01/SF
NOI
$79.0K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,580,180
Cap Rate 7%
$1,128,700
Cap Rate 9%
$877,878
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$987.6K – $1.32M
NOI $79,009 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$983.9K
$860.9K – $1.15M
NOI $68,873 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,758 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family semi-attached duplex with two tenant-occupied units, partially finished basement, and shared driveway.
Where is this duplex located?
The property is located at 2529 E 22nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,369,000.
What are key features of this property?
This property features: Legal two‑family 6/6 semi‑attached duplex with two separate unit layouts; Two floors each offer living/dining combo, eat‑in kitchen, 3 bedrooms, and a full bathroom; Partially finished basement with family room, full bathroom, open space, plus laundry and utilities room
